What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stock and crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in the Fall of 2014 exclusively as a robo-advisor trading app called Wealthsimple Invest, it has changed considerably over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and also ETFs without needing to pay any fees. The exception to this is when trading stocks and ETFs which are denominated in USD. In this case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the times of paying Upwards of $7 for each trade with online discount brokerages as was expected a couple years ago.
How Much Money do I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is special such that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have sizeable initial deposit amounts of $1,000-$5,000. This makes it hard for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You can choose between both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app available on Apple and also Google Play. The smartphone app makes the registration steps and also the trading of stocks and ETFs truly simple.
So Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). they’ve been in business for more than 7 years and currently employs more than 600 Canadians. The main shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to deposit to your account. Just connect the app to a chequing or savings account to your Trade account, and add funds to your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can also be moved back to a chequing or savings account by the exact same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-transfers that allow one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your taxes online for free. It’s pitched as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which lets one to earn 1% cashback on all your everyday spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of online courses on different topics such as saving, investments, crypto, real estate and much more.
All of the listed products, along with Wealthsimple Trade may be found in the app or at the site with a single login.
How Should I Begin With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you will get the equivalent cash value of a Canadian stock worth $25 up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Questions Concerning Wealthsimple Yahoo Finance?
If this review hasn’t answered all of your questions, and you’re still looking for more information about Wealthsimple Yahoo Finance, check out the Wealthsimple website to get answers to each your questions.